{"id":143167,"date":"2021-10-29T20:09:23","date_gmt":"2021-10-29T20:09:23","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143167"},"modified":"2021-10-29T20:09:23","modified_gmt":"2021-10-29T20:09:23","slug":"war-of-the-dogs-shib-flips-doge-again-after-12-surge-to-reclaim-9th-place","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/war-of-the-dogs-shib-flips-doge-again-after-12-surge-to-reclaim-9th-place\/","title":{"rendered":"War of the Dogs: $SHIB Flips $DOGE Again After 12% Surge To Reclaim 9th Place"},"content":{"rendered":"<p>On Friday (October 29), the two most popular dog meme coins, i.e. Shiba Inu ($SHIB) and Dogecoin ($DOGE), continued their flight for the title of ninth most valuable cryptoasset by market cap.<\/p>\n<p>On Wednesday (October 27), Joe Weisenthal, the executive editor of news for Bloomberg Digital, looked at\u00a0$DOGE and $SHIB, and explained why the former is now considered boring while the latter is considered cool.<\/p>\n<p>Weisenthal, who is \u201calso the co-anchor of \u2018What\u2019d You Miss?\u2019, Bloomberg Television\u2019s flagship markets program, as well as Bloomberg\u2019s \u2018Odd Lots\u2019 podcast\u201d,\u00a0shared his thoughts\u00a0about these two highly popular meme-based cryptoassets in today\u2019s\u00a0Bloomberg Markets newsletter.<\/p>\n<p>Weisenthal says that although \u201cit\u2019s tempting to just call SHIB just a Dogecoin ripoff,\u201d it has two big advantages over its older rival:<\/p>\n<ul>\n<li>\u201c<em>SHIB is built on Ethereum, and so has more advanced smart-contracting Profile capabilities.<\/em>\u201c<\/li>\n<li>\u201c<em>SHIB is a lot cheaper.<\/em>\u201c<\/li>\n<\/ul>\n<p>In other words, Weisenthal is saying that unlike $DOGE, $SHIB more than just a meme coin since there is a lot more to it than just being a dumb cryptocurrency since Shiba Inu has decentralized exchange ShibaSwap \u2014 which \u201cgives users the ability to\u00a0DIG\u00a0(provide liquidity),\u00a0BURY\u00a0(stake), and\u00a0SWAP\u00a0tokens to gain\u00a0WOOF Returns\u00a0through our sophisticated and innovative passive income reward system\u201d \u2014 and support for NFTs. And of course, as many $SHIB fans are aware, there are other interesting products being worked on by the $SHIB dev team as part of\u00a0Shiba Inu Phase 2, such as blockchain Shibarium, stablecoin SHI, and e-commerce platform ShibaNet.<\/p>\n<p>In contrast, he says that $DOGE \u2014 like Bitcoin \u2014 \u201cjust sits there\u201d waiting for billionaires such as Elon Musk and Mark Cuban to tweet about it.<\/p>\n<p>Also, Weisenthal believes that the fact that one $SHIB costs much less than one $DOGE makes buying a large quantity of coins much more affordable for ordinary retail investors.<\/p>\n<p>He went on to say:<\/p>\n<p>\u201c<em>You might still say it\u2019s a total joke, and that there are more serious crypto projects that should be getting attention. And maybe that\u2019s true. But as the longtime holder who goes by Shib Barbie on Twitter told me: \u2018People are always going to hate things that aren\u2019t what they view as serious. Take the MCU (Marvel Cinematic Universe) for example. There are still people who don\u2019t consider them seriously films, despite making obscene profits and getting rave reviews.\u2019<\/em>\u201c<\/p>\n<p>And he closed his report by saying that he expected $SHIB to flip $DOGE \u201cany day now\u201d and to \u201cexpect all out chaos in the memecoin community if it happens.\u201d<\/p>\n<p>Well, Weisenthal\u2019s prediction about the \u201cflippening\u201d came true just hours after he wrote the above piece.<\/p>\n<p>This was the first time that $SHIB had entered the top 10 part of the market cap table, and naturally the SHIB Army was celebrating:<\/p>\n<p>This victory by $SHIB over rival dog coin $DOGE led New Zealand-based crypto analyst and influencer Lark Davis to mock $DOGE and declare $SHIB \u201cthe new dog in town.\u201d <\/p>\n<p>However, much to display of the $SHIB holders, the following day, perhaps due to some profit taking by some $SHIB holders, $DOGE managed to move back into 9th place.<\/p>\n<p>And now, one day later, these two meme-based cryptoassets have traded places again. <\/p>\n<p>According to data by TradingView, on crypto exchange FTX, currently (as of 18:55 UTC on October 29), $SHIB is trading at $0.007463, up 12.73% in the past 24-hour period.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2021\/10\/SHIBUSD_2021-10-29_19-59-06-1280x669.png\"><\/p>\n<p>In contrast, on crypto exchange FTX, $DOGE is currently trading at $0.2935, down 4.30% in the past 24 hours.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2021\/10\/DOGEUSD_2021-10-29_20-04-50-1-1280x669.png\"><\/p>\n<p>As for Shiba Inu\u2019s decentralized exchange ShibaSwap, it seems that today it had its second highest ever trading volume.<\/p>\n<h2>Disclaimer<\/h2>\n<p><em>The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/10\/war-of-the-dogs-shib-flips-doge-again-after-10-surge-to-reclaim-9th-place\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Friday (October 29), the two most<\/p>\n","protected":false},"author":3,"featured_media":143166,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>War of the Dogs: $SHIB Flips $DOGE Again After 12% Surge To Reclaim 9th Place - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/war-of-the-dogs-shib-flips-doge-again-after-12-surge-to-reclaim-9th-place\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"War of the Dogs: $SHIB Flips $DOGE Again After 12% Surge To Reclaim 9th Place - 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